Weekly newsletter - year XXV - No. 21 - 10 June 2019
- NEWS OF THE WEEK -
Pursuant to art. 7-octies, letter b) of Italian Legislative Decree no. 58 of February 24, 1998 (Consolidated Law on Finance) the, National Commission for Companies and the Stock Exchange has also ordered the following companies to cease infringement of art. 18 of the TUF:
- Brown Fox Limited, via the website www.tradesfly.com (Resolution no. 20950 of June 4, 2019);
- Global ES Ltd and Sonartech OÜ, via the website www.capitalfmi.com (Resolution no. 20952 of June 4, 2019);
- A Corp Ltd, via the website www.londonfuturemarket.com (Resolution no. 20951 of June 4, 2019).
The National Commission for Companies and the Stock Exchange has also:
- suspended by way of precaution, pursuant to article 99, paragraph 1, letter a) of the Consolidated Law on Finance, for a period of 10 working days, the share offering to the Italian public promoted by Solar Group Limited via the website https://solargroup.pro (Resolution no. 20953 of June 4, 2019);
- prohibited, pursuant to article 99, paragraph 1, letter d) of the Consolidated Law on Finance, the public offering of the ‘Werte Wachsende and Scryptmining Project’ implemented by Wachsende Werte Gmbh and Co KG and Scryptmining , including via the website wachsendewerte.at/it, in infringement of article 94 of the same decree (Resolution no. 20954 of June 4, 2019).
The supervisory authorities of the United Kingdom (Financial Conduct Authority - FCA), Hong Kong (Securities and Futures Commission - SFC), Australia (Australian Securities and Investments Commission - ASIC), Luxembourg (Commission de Surveillance du Secteur Financier - CSSF), Liechtenstein (Financial Market Authority) and Spain (Comisión Nacional del Mercado de Valores - CNMV) report the companies and websites offering investment, financial and insurance services without the required authorisation.
Reported by the FCA:
- Broad Oak Finance Limited (http://broadoakfinanceltd.com), with declared registered address in London, clone of the authorised company Broad Oak Finance Limited with registered address in the United Kingdom (reference number: 741216);
- ICM Capital Limited (http://icmcapitaluk.com/; http://telegram.me/icm_support), clone of the authorised company ICM Capital Limited (https://www.icmcapital.co.uk), with registered address in London (reference number: 520965);
- Holden & Co (www.holdenco.org), with declared registered address in London, clone of the authorised company Holden & Co, with registered address in London (reference number: 103287);
- PBH Invest (https://pbhinvest.com/), clone of the authorised company Catalysis Capital Partners Limited (https://www.catalysiscapital.com), with registered address in London (reference number: 103287);
- Blue Hill Capitals, clone of the authorised company Legacy Hill Capital Ltd with registered address in the United Kingdom (reference number: 739399);
- Margin Bank (http://marginworldwide.com/home.html);
- TradoSpot OU (https://www.tradospot.com), with declared registered address in Estonia;
- Opt Finance (https://optfinance.com/, https://optfinance.io), with declared registered address in St Vincent and the Grenadines;
- Molly Raam (https://www.instagram.com/mollyramm);
- FSE Global Solutions t/a Milton Park Capital (www.miltonparkcapital.co.uk);
- Lotus Global Investments Management LLP (www.lotusglobalinvestments.co.uk), clone of the authorised company Generation Investment Management LLP (www.generationim.com), with registered address in London (reference number: 402126);
- TurnFx / Turn Fx (https://turnfx.com), with declared registered addresses in St Vincent and the Grenadines, London, Cyprus and Estonia;
- Deutsche Bank AG, clone of the authorised company Deutsche Bank AG (reference number: 150018);
- 1Plus1 Loans UK Ltd, with declared registered address in Lancashire, clone of the authorised company 1Plus1 Loans Limited (www.1plus1loans.co.uk), with registered address in Lancashire (reference number: 717767);
- Uki/ Forexuki/ Forex UkI (http://www.forexuki.com/zh-cn), clone of the authorised company UK Insurance Ltd (reference number: 202810);
- Sanford Capital Group (www.sanfordcapitalgroup.com), with declared registered address in New York, clone of the authorised company Jupiter Asset Management (www.jupiteram.com), with registered address in London (reference number: 141274);
- Platinum Global Associates (www.platinumglobalasociates.com) with declared registered address in New York.
Reported by the SFC:
- 中信之星 (Chinese name only);
- Jade & Kelvin Limited (www.jadekelvinlimited.com), with declared registered address in Hong Kong;
- Duke Valentine Limited (www.duke-valentine.com), with declared registered address in Hong Kong;
- Lextin Capital (www.lextincapital.com), with declared registered address in Hong Kong;
- Fort Trades (www.fort-trades.com), with declared registered address in Hong Kong;
- Marco Go Up Holding Limited (www.mguhk.com), with declared registered address in Hong Kong.
Reported by ASIC:
- OneLife Network Limited (www.onelife.eu), with declared registered address in Belize;
- OneCoin Limited (www.onecoin.eu), with declared registered address in Sofia.
Reported by the CSSF:
Reported by the Liechtenstein Financial Market Authority:
- BeCoFin Trust (https://www.becofinancement.com), clone of an authorised company;
- Solu Trade (https://solu-trade.com).
Reported by the CNMV:
- Max Your Profit (https://max-your-profit.com);
- Cmcryptomarket-Melbarmedialtd - Melgreg Services Ou (www.cryptopmarket.com);
- Bitcoinrobot (https://btcrobot.com);
- 1k-Daily Profit (https://1k-dailyprofit.com; https://es.1k-dailyprofit.com);
- Trading Waves Fusion (https://tradingwavesfusion.com);
- Globalix Ltd (globalix.com);
- Cryptosoft (https://cryptosoft.global);
- Investfxglobal (www.investfxglobal.com);
- Investment 4 Future Limted (www.tradesfx.com);
- BT Ventures Ltd - Capital88 Ltd (www.capital88.com);
- Bonatech Ltd - Mitchell Group Eood (www.ccxcrypto.com);
- Bitcoinoie Finservices Ltd - Elit Property Vision Ltd (www.bitcoinoie.com);
- Storm Complex Ltd (www.xcoinbroker.com);
- Storm Complex Ltd (jbcapitals.com).
CONSOB’s meeting with the financial market will be held this year on Friday, June 14 in Milan. The meeting is scheduled for 11 am at Palazzo Mezzanotte, headquarters of Borsa Italiana. A speech will be given by the Chairman, Professor Paolo Savona.
From 9am to around 1pm on Monday June 10, a conference on 'Institutional Investors, corporate governance and stewardship codes: problems and perspectives’ , organised by CONSOB, Bocconi University and the European University of Rome, will be held at the CONSOB auditorium in Rome (with entrance at Via Claudio Monteverdi 35).
In the course of the event, the Legal Research Paper no. 19 ‘Institutional investors, corporate governance and stewardship codes’ will be presented in order to launch a debate on the issue with doctrine (Italian and foreign), with the sector authorities (Ministry of Economy, ESMA and Banca d’Italia) as well as with industry representatives (Financial Reporting Council and Assogestioni).
Participation in the event is open and free of charge, following registration at SIPE.
The programme is available on the CONSOB website at http://www.consob.it/web/area-pubblica/seminari-e-convegni.
CONSOB and Banca d'Italia, as the authorities in charge of supervising Italian central counterparties, comply with the ‘Conflicts of Interest Guidelines for Central Counterparties’ issued by the European Securities and Markets Authority (ESMA), integrating them as part of their respective supervisory practices (Notice of June 3 2019).
The Guidelines, published on the ESMA website on April 5 and on the CONSOB website (at http://www.consob.it/documents/46180/46181/esma70_151_1439_IT.pdf/57b98f79-c68e-4a04-b558-717397426e61), clarify the concept of conflicts of interest and detail the rules and procedures that the central counterparties should adopt in relation to the identification, prevention and management of conflicts of interest.
The intention is to encourage the shared, uniform and consistent application of European standards (article 33 of Regulation (EU) no. 648/2012 and articles 3, 5, 6 and 7 of Delegated Regulation (EU) no. 153/2013).
ESMA was informed of this compliance pursuant to Regulation (EU) no. 1095/2010.
On June 3 in Rome, an agreement between CONSOB and the Polizia di Stato (State Police) was signed for preventing and combating computer crime that targets particularly important national systems and information services.
The agreement - signed by the Chairman of CONSOB, Paolo Savona, and by the Chief of Police - Director General of Public Security, Franco Gabrielli - falls within the scope of the directives issued by the Minister of the Interior for the strengthening of crime prevention through the conclusion of agreements with the operators that provide essential services.
Indeed, the Italian Postal and Communications Police strive daily to ensure the integrity and proper working order of the computer network of strategic national structures through the National Computer Crime Centre for the Protection of Critical Infrastructures.
In its regulation and supervision of financial markets, CONSOB plays a decisive role and is an infrastructure of national interest. Therefore, the protection of its computer systems is essential to ensure the full performance of its functions.
The agreement, based on information sharing and on operational cooperation, lasts three years and represents a significant step towards successfully combating cybercrime.
In attendance at the signing of the agreement were also the Director General for the Road, Rail and Communications Police for the Department of Public Safety, Armando Forgione for the Special Departments of the State Police and the Director of the Police Postal Service and Communications, Nunzia Ciardi; for CONSOB, Commissioner Paul Ciocca, Secretary General, Carlo Deodato, Manager of the Informative Infrastructure Division, Paul Libri and the Manager of the IT Security Office, Claudio Gentili.
taken or made public during the week (the documents are available in the Italian version of "Consob Informa")
- Approval has been granted for the registration document relating to the public offering of debt and derivative securities issued by Banca Monte dei Paschi di Siena Spa (Decision of June 4, 2019).
- Approval has been granted for the supplement to the registration document and the supplements to the base prospectuses relating to the public bid programmes of certificates issued by Banca Imi Spa (Decision of June 4, 2019).
- Approval has been granted for the base prospectus relating to the public bid programme of debenture loans issued by Banca di Credito Cooperativo di Roma SC (Decision of June 5, 2019).
- Approval has been granted for the registration document relating to the public offering of debt and derivative securities issued by Banca Akros Spa (Resolution no. 20949 of June 4, 2019).
Registers and lists
- Approval of registration of Start Funding Srl, with registered address in Lecce, on the operators’ register established by article 50-quinquies, paragraph 2 of Legislative Decree no. 58 of 24 February 1998